Saturday, December 31, 2011
This year, the City’s credit rating, of A+ was reaffirmed by Standard and Poors. The other two credit rating agencies, Moody’s and Fitch, also reaffirmed the City’s A category credit rating. This is good news for the City, during these tough economic times. The credit rating agency reports ‘the City’s diverse economic base and institutional anchors promotes stability within the region’. The city of St. Louis is the economic engine of the region. Its financial stability is attractive to investors and promotes investor confidence in our region. While the City faces its share of budget challenges this year, the credit rating agency reports ‘the City has prudently managed operations by conservatively forecasting economically sensitive revenues, implemented new revenue sources, [and] by continuously monitoring expenditures and making judicious cuts in its workforce’. Under my leadership as Comptroller, the City will continue its conservative fiscal policies, exercise prudent stewardship over the city funds, and tighten the budget.